Fort Wayne-based Vera Bradley Inc. (Nasdaq: VRA) has completed its acquisition of a 75 percent interest in Creative Genius Inc., which also operates under the name Pura Vida Bracelets. Pura Vida will operate as a subsidiary of Vera Bradley from its current headquarters in La Jolla, California.
The deal, announced last month, stated that Pura Vida will continue to be led by Griffin Thall and Paul Goodman.
“We are thrilled to complete the Pura Vida acquisition. Pura Vida is a terrific fit for Vera Bradley as we move into the second phase of our Vision 20/20 three-year strategic plan and focus on growth. The acquisition will grow revenues, expand our customer community, and diversify our business, which we believe will result in increased shareholder value,” said Chief Executive Officer of Vera Bradley Robert Wallstrom.